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Posted

A plan participant was able to write a check to his plan account on his own.  Not deferral, not through payroll, etc.

The plan does not allow for post tax contributions.  How to correct?

Posted

And as long as the return of the money occurs no later than the end of the second plan year after it went it, should qualify as self-correction of operational error under EPCRS.

Luke Bailey

Senior Counsel

Clark Hill PLC

214-651-4572 (O) | LBailey@clarkhill.com

2600 Dallas Parkway Suite 600

Frisco, TX 75034

Posted

And even if not by the end of the second plan year it might very well be an insignificant error allowing self-correction under EPCRS.

Posted

Right. Probably insignificant in any event, I agree.

Luke Bailey

Senior Counsel

Clark Hill PLC

214-651-4572 (O) | LBailey@clarkhill.com

2600 Dallas Parkway Suite 600

Frisco, TX 75034

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